Saudi Aramco has increased its crude oil prices for Asian customers in February, following a significant drop in January. The benchmark Arab Light crude price has been raised by 60 cents per barrel, while other grades also saw price increases. The adjustments align with changes in the market structure and spot premiums for Middle Eastern crude grades have recovered. Saudi Aramco produces five grades of crude oil, which are differentiated by their density. These price benchmarks impact approximately 9 million barrels per day of crude oil shipments to Asia.
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Original article source: https://www.arabnews.com/node/2585410/business-economy
Source Id: 2025-01-594518265